Common use of Extent of Duties Clause in Contracts

Extent of Duties. Each Agent shall only be obliged to perform the duties set out herein and such other duties as are necessarily incidental thereto. No Agent shall (i) be under any fiduciary duty towards or have any relationship of agency or trust for or with any person other than the Current Issuer and (to the extent expressly provided herein only) the Note Trustee (ii) be responsible for or liable in respect of the authorisation, validity or legality or enforceability of any Current Issuer Note or any Note Certificate (other than in respect of the authentication of Note Certificates by it in accordance with this Agreement) or any act or omission of any other person including, without limitation, any other Agent (except to the extent that such liability arises out of any breach of contract, bad faith, misconduct or negligence on the part of any such Agent), (iii) be under any obligation towards any person other than the Current Issuer, the other Agents and the Note Trustee or (iv) assume any relationship of agency or trust for or with any Noteholder except that funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be held by them on trust for the relevant Noteholders to the extent required by the Trust Indenture Act until the expiration of the relevant prescription period under the Current Issuer Trust Deed.

Extent of Duties. Each Agent shall only be obliged to perform the duties set out herein and such other duties as are necessarily incidental thereto. No Agent shall (i) be under any fiduciary duty towards or have any relationship of agency or trust for or with any person other than the Current Master Issuer and (to the extent expressly provided herein only) the Note Trustee (ii) be responsible for or liable in respect of the authorisation, validity or legality or enforceability of any Current Issuer Note or any Note Certificate (other than in respect of the authentication of Note Certificates by it in accordance with this Agreement) or any act or omission of any other person including, without limitation, any other Agent (except to the extent that such liability arises out of any breach of contract, bad faith, misconduct or negligence on the part of any such Agent), (iii) be under any obligation towards any person other than the Current Master Issuer, the other Agents and the Note Trustee or (iv) assume any relationship of agency or trust for or with any Noteholder except that funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be held by them on trust for the relevant Noteholders to the extent required by the Trust Indenture Act until the expiration of the relevant prescription period under the Current Issuer Trust Deed.

Extent of Duties. Each Agent shall only be obliged to perform the duties set out herein and such other duties as are necessarily incidental thereto. No Agent shall (i) be under any fiduciary duty towards or have any relationship of agency or trust for or with any person other than the Current Master Issuer and (to the extent expressly provided herein only) the Note Trustee (ii) be responsible for or liable in respect of the authorisation, validity or legality or enforceability of any Current Issuer Note or any Note Certificate (other than in respect of the authentication of Note Certificates by it in accordance with this Agreement) or any act or omission of any other person including, without limitation, any other Agent (except to the extent that such liability arises out of any breach of contract, bad faith, misconduct or negligence on the part of any such Agent), (iii) be under any obligation towards any person other than the Current Master Issuer, the other Agents and the Note Trustee or (iv) assume any relationship of agency or trust for or with any Noteholder except that funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be held by them on trust for the relevant Noteholders to the extent required by the Trust Indenture Act until the expiration of the relevant prescription period under the Current Issuer Trust Deed.Issuer